Kabirdass Motor Company IPO : Plans to raise Rs 78 crore

Chennai based Kabirdass Motor Company Limited already filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company is planning to enter the primary market with an Initial Public Offer (IPO) of Rs 78 crores. Kabirdass Motor Company Limited engages in the manufacture and distribution of electric bikes and scooters in India. The company offers its products under the “Xite” brand name. It provides its products primarily to the customers under 18 years, or above 40 years. The company was founded in 2006 and is a subsidiary of Best Cast IT Ltd..

Promoters of the company are Murali Kabirdass, Haripriya Murali and M/s. Best Cast IT Limited.